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TexasTowelie

(111,312 posts)
Mon Apr 8, 2013, 05:24 PM Apr 2013

Report: J.C. Penney CEO Ron Johnson is out; Ullman coming back

CNBC is quoting sources saying that J.C. Penney CEO Ron Johnson is out. Johnson joined Penney from Apple Inc. in 2011 with a mandate to transform the store.

Penney shares rose almost 6 percent in after-hours trading. Former CEO Myron “Mike” Ullman is coming back, according to a press release from Penney.

Johnson’s personal currency devalued a bunch last week.

Former Penney CEO Allen Questrom said Friday he toured Penney’s prototype store in Dallas with Johnson and while he liked the shops, he still believed the new pricing and merchandise strategies should have been tested. Asked in an interview last week if he would rejoin Penney as a board member, Questrom said no.

More at http://bizbeatblog.dallasnews.com/2013/04/report-j-c-penney-ceo-ron-johnson-is-out.html/ .

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Report: J.C. Penney CEO Ron Johnson is out; Ullman coming back (Original Post) TexasTowelie Apr 2013 OP
Interesting. I bet they'll be partying in the salon at my hair appointment this week. tanyev Apr 2013 #1
but, it won't be long before some other company picks him up.... a kennedy Apr 2013 #2
Deck chairs. Rearranged. marmar Apr 2013 #3

tanyev

(42,360 posts)
1. Interesting. I bet they'll be partying in the salon at my hair appointment this week.
Mon Apr 8, 2013, 05:29 PM
Apr 2013

Pre-Ron that place was hopping every time I went there. Post-Ron it's been a deserted wasteland.

a kennedy

(29,467 posts)
2. but, it won't be long before some other company picks him up....
Mon Apr 8, 2013, 05:30 PM
Apr 2013

kinda like the revolving door of NCAA/NFL/NBA coaches and MLB managers....always get some other company (team's) loser coach/manager.

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